Snapdeal Establishes Its Data Sciences Centre In California

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May 30, 2016:  India’s largest online marketplace, Snapdeal has established its data sciences centre in San Carlos, California, the New Delhi-headquartered company announced on Monday.

The centre will act as the focal point for the online retailer’s efforts in big data and advanced analytics, and will shape the SoftBank, Foxconn and Alibaba Group-backed Snapdeal’s business strategy, by looking to “optimise the operational efficiencies using data-driven algorithms, data analytics and predictive modelling,” according to an official statement released by the company.

Rohit Bansal, Chief Operating Officer said, “We have set up a Data science engine in California, which is home to domain talent, to further augment our efforts in creating a superior customer experience and strengthen our supply chain. Snapdeal is extensively working on data mining through an existing analytics team.”

The data sciences centre will be led by Nitin Sharma , senior vice president at Snapdeal, the press release said. It however did not disclose the number of hires made by the company for the centre.

Sharma also said, “We have a highly accomplished team which can distil key patterns, consumer preferences and hidden correlations by quickly analysing huge quantities of data. We will bring fresh insights to the existing work and will enhance customer experience through better planning and forecasting.”

 However, Snapdeal is looking to establish its presence in US in forthcoming time.
In May last year, Bansal had said that the company, which closed a $200 million round of funding in February that valued it at about $6.5 billion, was exploring several options, as it mulled establishing its presence in the US.

Reduce Data, a programmatic display advertising and Silicon Valley-based startup was acquired by Snapdeal in September for an undisclosed sum. Founded in 2012 by Asif Ali, Reduce Data’s platform uses artificial intelligence, real-time data and other tools, to help brands deliver advertising strategies for consumers across platforms and devices.

The news comes about a month after et reported the Snapdeal will is now focusing on adding and retaining high-quality users, defined as frequent shoppers purchasing high-margin products, instead of relying on gross merchandise sales, which has thus far, been the primary metric of choice for online retailers globally, to quantify growth.

Bansal said “The richer understanding of the customers by capturing and integrating the information on their buying behaviour will drive habit commerce and is in sync with our vision of 20 million daily transacting users by the year 2020.”

Snapdeal  also reported a month ago that it will focus on adding and retaining high-quality users, defined as frequent shoppers purchasing high-margin products, instead of relying on gross merchandise sales, which has thus far, been the primary metric of choice for online retailers globally, to quantify growth.

However, the company is not the first Indian startup to establish its presence outside domestic borders.

Paytm that is backed by Alibaba Group also opened in data sciences lab in Toronto, Canada in 2015, which has onboard about 30 scientists till December last year, and looks at fraud detection, advertising and merchant analytics.

Also Read: Snapdeal To Tap Chinese Firms, SWF’s To Raise Money For FreeCharge

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